Thanks, love this solution. This combined with Classes will allow me to report on initiatives to our board with classes and granting organizations using the subaccouts at the same time.
How did you end up doing this? i was thinking of creating a CLASS called DONOR RESTRICTED FUNDS, then SUB-CLASSES under it for each of the donor restricted projects, like: Feed the poor fund, Building Fund, Clothing for kids fund, special misc. projects fund Will this work? Then create the separate sub accounts under the bank account to track how much is in the bank for each donor restricted fund.
@@paulschultz4969 I'm personally not aware of sub accounts of classes. I think the appearance would get pretty messing if there was an option though. I know the classes are organized left to right alphabetically and numerically. I would bet naming all the restricted fund classes with "Rest -" at the beginning of the name would accomplish this goal for you. Printing the final report to excel would then allow an admin to subtotal those class columns fairly quickly.
your balance sheet says net income but you said this is for nonprofits? i need net income on balance sheet to say Excess income over Expense how do i do that?
Great Video, thanks for your knowledge. This is VERY helpful. Exactly what we were trying to figure out how to do. Thanks so much!
Thank you. Your video helped me to setup our small organization books.
Thanks, love this solution. This combined with Classes will allow me to report on initiatives to our board with classes and granting organizations using the subaccouts at the same time.
How did you end up doing this? i was thinking of creating a CLASS called DONOR RESTRICTED FUNDS, then SUB-CLASSES under it for each of the donor restricted projects, like: Feed the poor fund, Building Fund, Clothing for kids fund, special misc. projects fund Will this work? Then create the separate sub accounts under the bank account to track how much is in the bank for each donor restricted fund.
@@paulschultz4969 I'm personally not aware of sub accounts of classes. I think the appearance would get pretty messing if there was an option though. I know the classes are organized left to right alphabetically and numerically. I would bet naming all the restricted fund classes with "Rest -" at the beginning of the name would accomplish this goal for you. Printing the final report to excel would then allow an admin to subtotal those class columns fairly quickly.
Excellent, thank you!
Thank you🎉🎉🎉🎉🎉
Is there a video of how to acct for income/expenses from a fund... as you mentioned in this video?
Awesome video!! Can you deposit a large sum into the main checking and then transfer a portion of it to one of the sub accounts you created?
Better to use Class List to track funds as opposed to creating an exhaustive chart of accounts
your balance sheet says net income but you said this is for nonprofits? i need net income on balance sheet to say Excess income over Expense how do i do that?
Cash accounts assets= liabilities + net assets how do I work the Cash accounts on QuickBooks.. meaning the Double Entry,.
The menu of nonprofit doesnt seem above how do i solve
mnovi